kuki.pl – Passive income

Mintos loan originator Kuki.pl misses the payment of the buyback guarantee?

By MPI17th October 2019Smart moneybuyback guarantee, Eurocent, fail, kuki.pl, Mintos

Update:

As promised, I return with the response received from Mintos support. It arrived promptly, the next day, and you can read it below:

“Dans (Mintos)

Oct 18, 12:36 EEST

Hi Cristian,
thank you for your message.

After checking I found that the loan you are referring to had been closed by the 16.10.2019.
It is listed in the finished Investments as well. The amount of days the loan is late, however, will keep increasing. As of now it is 63 days late, but that doesen`t change the fact that the loan had been in accordance to the buy-back guarantee on the 16.10.2019.

I hope that cleared it up and you may have a pleasant day
Let us know if you have any other questions.

Regards,
Dans”

Now, given the age of the platform, the volume of transfers and the experience with them so far, I will credit them, but there are still some doubts:

– if a loan was paid on 16.10.2019, why did it appear within the platform as late on 17.10.2019 (at night !!!) as it results from the image below, and only on 18.10.2019 as ” Finished prematurely “?

– if indeed the loan was paid on 16.10.2019, it means that there is a problem of the platform with the updating and/or displaying of data, which is worrying considering that we all make investment decisions in accordance with the information displayed.

As a personal opinion, for a while I will stay away from kuki.pl.

If you have questions or can explain these differences, feel free to comment on this post.

End of update

No money

Tonight, when I checked the Mintos platform, I had the unpleasant surprise to see that there are loans on my portfolio at Mintos that are more than 60 days late, given that I only invest in loans with buyback guarantee.I checked on the platform and noticed the following loan:

Kuki.pl buyback default

I am aware that this is only a one day late loan, but after the “experience” with Eurocent and Aforti I am very attentive to everything that happens within the platform.

I sent a message to Mintos about this topic, I will update this post when I get a response from them.

However, until then, I liquidated the entire loan portfolio from kuki.pl on the secondary market. I hope this is not another case like Eurocent.

Kuky.pl from Poland joins Mintos p2p lending marketplace and offers short-term investment opportunities

Mintos have a new addition to the loan originators family! Kuki.pl has just launched on the marketplace and offers you the opportunity to invest in its short-term consumer loans issued in Poland. The company is one of the fastest growing online short-term lenders in Poland and now lists its loans on Mintos in EUR and PLN for investment.

Established in 2017 Kuki.pl is a non-bank financial institution located in Warsaw, Poland and has its headquarters in Riga, Latvia. The company is made up of a team of 23 employees and is led by a strong management team which has up to 10 years experience in the online short-term consumer crediting market. Kuki.pl values its relationship with its customers above all else and aims to give the most convenient and fastest service. It achieves this through innovation, as it deploys the latest technologies to ensure instant consumer identification and scoring.

“We are excited to begin this collaboration with Mintos and share our strong performing portfolio with investors on the marketplace. We believe Mintos will allow Kuki.pl to grow at an even faster rate and allow us to reach a larger customer base in Poland, which is our goal,” says Toms Jurjevs, Group CEO.

The average Poland-issued short-term loan from Kuki.pl is around EUR 420 and PLN 1 760. The average repayment period is 30 days. You can expect an annual return rate of up to 13.1%.

Kuki.pl will keep 10% of each loan on its balance sheet to maintain its skin in the game. The company guarantees all of its loans that are delinquent for 60 days will be secured with a buyback guarantee. Kuki.pl and Bino.lv both belong to the same group.

Kuki.pl’s data-driven approach has enabled it to build a well-performing portfolio relatively quickly. Since its inception until March, 2018, it has originated more than 36 700 loans worth more than EUR 12.3 million. As of February 28, 2018, the company had a net loan portfolio of around EUR 4.2 million.